Melinda French Gates has announced that she will be stepping down from her role as co-chair of the Bill & Melinda Gates Foundation, the nonprofit organization she and her ex-husband Bill Gates established and built into one of the world’s largest philanthropic entities over the past two decades.
In a statement posted on the X platform (formerly Twitter) on Monday, French Gates expressed that the decision was not one she made lightly, and she emphasized her immense pride in the foundation’s work addressing inequities around the world. She also praised the foundation’s CEO, Mark Suzman, and the recently expanded board of trustees, which grew significantly following the couple’s divorce announcement in May 2021.
French Gates stated that the time had come for her to move forward into the next chapter of her philanthropic journey, which she organizes through her organization, Pivotal Ventures, a non-profit entity. As part of her agreement with Bill Gates, French Gates will receive $12.5 billion, which she said would be committed to her future work focused on women and families.
In response to the announcement, Bill Gates thanked French Gates for her “critical” contributions to the foundation and expressed his confidence that she would continue to have a significant impact in her future philanthropic endeavors, despite his sadness at seeing her leave.
According to Suzman, French Gates wants to use this next chapter to focus specifically on altering the trajectory of women’s rights, which have been rolled back in the U.S. and around the world in recent years. Suzman also acknowledged that many had joined the foundation in part because of their admiration for French Gates’ advocacy, particularly around gender equity.
The Gates Foundation, which holds an endowment of $75.2 billion as of December 2023, announced in January that it planned to spend $8.6 billion throughout the course of its work in 2024.
The Associated Press contributed to this article.